Foxconn ups the offer for Sharp

The Taiwanese mega company has raised its acquisition offer for Japanese Sharp to (JPY 659 billion) USD 5.45 billion.

However, according to sources who spoke to the Wall Street Journal, Foxconn is not intending to buy out the Japanese company's shareholders. Foxconn is rather looking to inject JPY 386 billion into the company in exchange for new shares – which would end up with Foxconn holding roughly a two-thirds stake.

Foxconn has reportedly also offered to buy shares held mainly buy Sharp's main banks, the report continues. These shares were issued to the banks after last years bail out of Sharp.

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